Understand the numbers you confirm.

A sample corporation's books, as Ledg prints them. Each marked line opens the Handbook entry that explains it.

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Maple Studio Inc.

Balance sheet

As at December 31, 2025

GIFI2025

Assets

Current

Cash1002$54,165.55 Total assets2599$54,165.55

Liabilities

Current

Visa ••77022620691.56 GST/HST payable26805,618.99 Income taxes payable (note 4)26805,106.31 Due to shareholder (note 3)27806,000.00

Total liabilities349917,416.86

Shareholder's equity

Retained earnings360036,748.69 Total shareholder's equity362036,748.69

Total liabilities and shareholder's equity3640$54,165.55

GST / HST

GST/HST Overview

Canada's federal value-added tax, applied at 5% GST alone in most western and northern provinces and at a blended HST rate of 13% to 15% in five harmonized provinces.

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Foundations8 entries
Federal
Financial Statements5 entries
Federal
Accounting Standards5 entries
Federal
Chart of Accounts & GIFI6 entries
Federal
Corporate Tax (Federal)18 entries
Federal
Personal Tax (Federal)4 entries
Federal
GST / HST11 entries
Federal
Payroll (Federal)9 entries
Federal
Capital Assets & CCA9 entries
Federal
Expenses13 entries
Federal
Owner Compensation5 entries
Federal
Record Keeping2 entries
- Six-Year Retention Rule
- Electronic Records
Federal
Incorporation3 entries
Federal
British Columbia11 entries
British Columbia
Ontario14 entries
Ontario

Glossary48 terms

Short definitions of Ledg's words and Canadian accounting terms.

Articles19 articles

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